ADB maintains PH GDP forecast at 6.5%

By Tiziana Celine Piatos

Sep 22, 2022 12:21 am

THE Asian Development Bank (ADB) said on Wednesday it is maintaining its 6.5-percent growth outlook for the Philippine economy this year, fueled by the country's recovery from the Covid-19 pandemic.

The Asian Development Outlook 2022 Update added that the growth projection for 2023 is kept at 6.3 percent as monetary policy tightening and accelerating inflation will affect domestic demand.

Photo shows a view of the Manila skyline with buildings lining Roxas Boulevard in Manila. The Asian Development Bank has retained its 6.5-percent economic growth outlook for the Philippines in 2022, citing the country’s exit from the Covid-19 pandemic. PHOTO BY J. GERARD SEGUIA

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